Sea Point penthouse sells for a cool R37 million to young German professional
Cape Town - The duplex penthouse at Sea Point’s latest luxury residential development, the Station House, has just sold for a cool R37 million to “a young German professional who only plans to stay there from time to time”.
Tyson Properties founding partner, Michael Bester, who together with colleague James Carney clinched the cash purchase deal on the penthouse, one of two in the complex, described the buyer as a “professional nomad who is chasing the sun”.
Bester said the buyer was a regular visitor to Cape Town whose job allowed him to work remotely.
Located at 19 Kloof Road in the heart of Sea Point, the development features 201 luxury apartments, of which 44 suites form part of the on-site boutique hotel. Apartments comprise studios, one-bed, two-bed, three-bed and penthouse units.
ester said the duplex is one of two exclusive penthouses located on the top two levels of the development. It has an internal space of 252 square metres and an outside space of 94 square metres.
The building also boasts an in-house concierge and cleaning services, on-site water treatment and sanitation and, in this era of continuous load shedding, full generator capacity.
He said the property had been designed in such a way that the top floor of the duplex was the main living area.
“It is dedicated to entertainment with a large open-plan kitchen, living and dining rooms which open up on to a spacious patio and swimming pool area. The floor-toceiling glass sliding doors allow for sensational views of the ocean and Signal Hill.”
Bester said the 10th floor section houses three en-suite bedrooms, each with views. The price includes four garage parking bays.
Asked whether the buyer was interested in letting out the penthouse on a short-term let platform whenever he was not in Cape Town, Bester laughed and said the development did not allow such short lets but that the buyer and his parents would stay there whenever they were in town.
Bester said the second penthouse was still available.
For anyone thinking of getting a bond for the penthouse, which is priced at R36 850 000, they need to prepare to shell out a monthly bond repayment of R374 111.87 calculated over 20 years at 10.75% with no deposit.
The monthly levy on the property works out to R17 750 while the monthly rates to the City will be a mere R16 500.
Meanwhile, for other foreigners considering properties in Cape Town to live in occasionally, the Province has said that a report containing recommendations on the adoption of a start-up and remote working visa is currently being considered by the Presidency.
mwangi.githahu@inl.co.za